Hello Ed
I tell you, these companies seem to be able to say what they want without fear of being called on the carpet.
The following is a NR from another one of these instant diamond exploration companies which if you read it, you would swear it was a hell of a prospect. However, as I posted yesterday, there isn't anything there, at least diamonds anyway.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWSFOR: CYCLONE CAPITAL CORP.
VSE SYMBOL: CYASEPTEMBER 27, 1995
CYCLONE COMPLETES ACQUISITION OF SEVERAL CLAIM GROUPSON SOMERSET ISLAND
VANCOUVER, BC--Cyclone Capital Corp. is pleased to announce that
it has issued 200,000 shares of its stock to Cominco Ltd. and
that the Company has now completed the acquisition of several
claim groups covering kimberlite prospects on Somerset Island in
Canada's Arctic under an option agreement dated September 23,
1992. To earn its interest the Company has paid $60,000 cash,
issued a total of 450,000 shares to September 30, 1995 and
expended a minimum of $1,600,000 prior to August 30, 1995. The
interest is subject to certain back-in rights by Cominco. To
date, the Company and joint venture partners have expended $1.7
Million on the properties.JP-NIKOS PROPERTIES:
Surface samples from the JP kimberlite, which were recently
treated by Lakefield Research Laboratories in Lakefield, Ontario
returned strong concentrations of pyrope and almandine-pyrope
garnets, corrundum and graphite. Kimberlite samples from a
combined sampling of the JP and Nikos kimberlite had earlier
returned favourable indicator mineral and microprobe analyses
from Dr. J. Gurney's Scientific Services (Pty) laboratory inSouth Africa.
The smaller JP kimberlite, the Nikos, and a further hidden, but
larger kimberlite, were identified by surface prospecting and
magnetic surveys in late 1993. In view of the highly prospective
geochemistry, it would appear that there is now increased and
significant diamond potential for the Nikos kimberlite.
This kimberlite appears to be approximately 300 meters by 170
meters in extent, and outcrops along the shoreline. The first
hand samples from the Nikos kimberlite processed by Dr. Gurney's
Laboratory had returned 400 pyrope garnets from a 2.5 gram split
of 144.7 grams of concentrate. A bulk sample from the Nikos
kimberlite has still to be collected for testing. Earlier
attempts to surface sample this pipe were hindered by snow cover
as it was found late in the season. Drill testing will also be
needed for the third hidden kimberlite body, which lies in
shallow water offshore.
Discussions are now being continued with others to allow bulk
sampling of the new discoveries and to process further samples
from the 1993 drill program. This drilling tested 9 kimberlite
bodies out of the 58 potential kimberlites identified on the
Somerset Island Project.KING CLAIMS, VANCOUVER ISLAND, B.C.:
Westward Explorations Ltd. has announced the commencement of
field work on Cyclone's King gold project, located on northern
Vancouver Island. The program includes detailed soil sampling,
mapping and hand trenching in preparation for a possible drill
program on mesothermal style gold vein mineralization. Pursuant
to an agreement dated February 10, 1993, Cyclone granted Westward
the option to earn 50 percent interest in the King claims.ON BEHALF OF THE BOARD
S. David AnfieldPresident and Director
I don't know if MGJ has anything or not, and unless they publish some of their geochemistry, and/or diamonds, I could not gain any insights, but just because Monopros is involved, I would not assume that the deposit is economic.
Monopros has been involved in hunting for diamonds in Saskatchewan for about twenty years or more including a partnership with a perennial horn blower, Kensington. These are huge pipes that dwarf anything in Alberta so far, but there has not been a hint of an economic deposit so far. Same for Ontario, Alberta, Brazil, Greenland, Finland, etc.
Besides, has anyone looked at a map. If you think Lac de Gras is in the middle of no where, the economics of pipes on Victoria Island would have to be pretty exciting. I have been up there in the dead of winter, and you would probably rather have your Mother In Law sleep immediately beside you for the next twenty years before you would want to work in a mine up there. Even Resolute has some scenery. Costs? Astronomical!
Have a good one.
Regards |
